News & Analysis as of

Fund Managers Alternative Investment Funds

Walkers

New trends in use of Jersey and Guernsey structures by US fund managers targeting European assets or capital

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Over the last few months, we have started to see new trends in inquiries and instructions regarding the use of Jersey and Guernsey structures by US managers targeting either European assets, or European capital....more

Goodwin

The UK Consumer Duty: The FCA’s Reminder for Private Fund Managers

Goodwin on

In our previous client alert, The UK Consumer Duty: Next Steps for Private Fund Managers, we explored the new consumer duty rules contained in PS22/9: A new Consumer Duty. As we noted, the duty applies to managers who provide...more

Goodwin

Guidelines on Marketing Communications Under the Regulation on Cross-Border Distribution of Funds

Goodwin on

SCOPE - On 2 August 2021, The European Securities and Markets Authority (“ESMA”) published the Guidelines on Marketing Communications (the Guidelines) under the regulation on cross-border distribution of funds, which...more

Goodwin

European Commission Outlines Proposals For AIFMD 2

Goodwin on

As the Alternative Investment Fund Managers Directive (“AIFMD”) was being developed prior to 2011, there were serious concerns across the funds industry that it might force managers to set up their funds offshore to avoid the...more

A&O Shearman

Great Fund Insights: AIFMD Review Proposal Published: What are the key takeaways for asset managers?

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On 25 November, the European Commission published its long awaited AIFMD Review package including a proposal amending the AIFMD and the UCITS Directive on delegation, liquidity risk management, provision of depositary and...more

Akin Gump Strauss Hauer & Feld LLP

[Podcast] SFDR for Beginners

In this episode, the first in our three-part EU ESG Considerations for Beginners miniseries, Akin Gump financial regulatory partner Ezra Zahabi looks at the Sustainable Finance Disclosure Regulation (SFDR) and what it means...more

Goodwin

New Pre-Marketing Obligations in Germany for AIFs Set to Take Effect in August

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On 28 May 2021, the German Legislator adopted new and stricter regulations on Alternative Investment Funds pre-marketing. These regulations will go into effect in August as an implementation of the Directive (EU) 2019/1160 on...more

Proskauer Rose LLP

UK FCA consults on new Long Term Asset Fund

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The United Kingdom Financial Conduct Authority (“FCA”) has published a consultation on proposals relating to a new type of fund product to support investment in long-term, illiquid assets. The intention is that the Long Term...more

Proskauer Rose LLP

Changes to AIFMD Marketing Rules from August 2021 – How will these New Rules Impact Fund Managers?

Proskauer Rose LLP on

On 2 August 2021, changes to fund marketing rules will come into effect in the European Union (“EU”). The revised rules (the “Marketing Rules”) amend the existing regime relating to the marketing of alternative investment...more

A&O Shearman

AIFMD Review – the key areas of focus for depositaries

A&O Shearman on

On 22 October 2020, the European Commission launched a public consultation on the review of the Alternative Investment Fund Managers Directive (the AIFMD Review). The public consultation follows the European Commission’s...more

Goodwin

Luxembourg Funds and Brexit: Update to UK Managers

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With the transition period coming to an end by the end of 2020, many UK managers are questioning the implication of Brexit to the fundraising and management of Luxembourg-based funds. As forecasted in our previous market...more

BCLP

2020 Funds First Update - February 2020

BCLP on

Welcome to our Funds First Update. In this briefing we set out an overview of some of the main developments and upcoming changes that we think will be of impact to fund managers, fund investors and to the funds sector as a...more

Proskauer Rose LLP

Brexit Update: Impact on Fund Managers from 31 January 2020 and Beyond

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At 11pm (local time) on 31 January 2020, the United Kingdom ("UK") will leave the European Union ("EU"), an event often referred to as "Brexit". A transitional period will take effect as of this date and will last until 31...more

Troutman Pepper

Investment Management Roundtable Discussion – Data Privacy and Security

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Gregory J. Nowak, a partner and practice leader for hedge funds in Pepper Hamilton’s Private Fund Services Practice Group, hosts a series of candid, interactive webinar discussions for West LegalEdcenter on what is going on...more

Kramer Levin Naftalis & Frankel LLP

EMIR REFIT – Implications for Fund Managers

On April 18, 2019, the final text amending the European Market Infrastructure Regulation (EMIR) was adopted by the European Parliament. The update to EMIR is widely referred to as EMIR REFIT and will come into effect on June...more

Orrick - Finance 20/20

ESMA Publishes Opinion on the Effect of Excluding Fund Managers From the Scope of MiFIR Intervention Powers

Orrick - Finance 20/20 on

On January 12, 2017, the ESMA published an opinion on the impact of exclusion of fund management from the entire scope of MiFIR (Markets in Financial Instruments Regulation) (Regulation 600/2014). Although, under...more

Nossaman LLP

California's Legislature Puts Additional Disclosure Pressure on Fund Managers with the Passage of AB 2833

Nossaman LLP on

On August 24th, the California Legislature approved Assembly Bill No. 2833 (“AB 2833”), which is now headed to Governor Jerry Brown’s desk for signature. If Governor Brown signs the bill, as is expected, all public pension...more

Dechert LLP

Luxembourg Publishes Bill of Law on Reserved Alternative Investment Funds

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The Luxembourg Council of Government approved on 27 November 2015 the bill of law (“Bill”) on reserved alternative investment funds (“RAIF”), a new form of Luxembourg alternative investment fund (“AIF”). The Bill was...more

Katten Muchin Rosenman LLP

FCA Announces Changes to GABRIEL

On September 14, the Financial Conduct Authority (FCA) published an update announcing changes to GABRIEL (Gathering Better Regulatory Information Electronically), its online reporting, data validation and filing portal....more

Dechert LLP

Private Equity Newsletter - Summer 2015 Edition: Indian Private Equity: Taxation and Trends

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With a new government at India’s center and positive macroeconomic fundamentals working in its favor, the private equity industry is expected to invest more actively into India over the short to medium term. In the past year,...more

Cooley LLP

Alert: The AIFMD For Non-EU Fund Managers: It's Probably Not As Bad You Think

Cooley LLP on

Many non-EU fund managers raising a non-EU alternative investment fund will accept a European investor on a "reverse solicitation" basis; but they won't "market" into Europe. This is often because the cost of complying with...more

Cooley LLP

Alert: The Alternative Investment Fund Managers Directive

Cooley LLP on

What is it? The European Union's Alternative Investment Fund Managers Directive (the Directive) came into force on 21 July 2011. The Member States of the European Union were obliged to transpose the Directive into...more

Goodwin

Mutual Fund Directors Forum Issues Report on Director Oversight of Mutual Funds Focused on Non-Traditional Assets and Strategies

Goodwin on

The Mutual Fund Directors Forum issued a report designed to provide practical guidance to mutual fund directors about overseeing “alternative funds.” The report treats as an “alternative fund” any registered open-end fund...more

Dechert LLP

Financial Services Quarterly Report - Fourth Quarter 2013: Delegated Portfolio Managers – Risk Takers or Not?

Dechert LLP on

German management companies (KVGs, formerly known as KAGs) that manage alternative investment funds (AIFs) within the meaning of the Alternative Investment Fund Managers Directive (AIFMD) are considered to be alternative...more

Morgan Lewis

AIFMD’s Impact on Non-EU Managers of Non-EU Alternative Investment Funds

Morgan Lewis on

With AIFMD taking effect, non-EU alternative investment fund managers should be aware of a new regime governing their marketing of such funds into the EU—the AIFMD's private placement overlay. ...more

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